Utah Retirement Systems Makes New $477,000 Investment in LegalZoom.com, Inc. (NASDAQ:LZ)

Utah Retirement Systems bought a new stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 63,570 shares of the company's stock, valued at approximately $477,000.

Other institutional investors also recently made changes to their positions in the company. Barclays PLC grew its position in LegalZoom.com by 308.5% during the third quarter. Barclays PLC now owns 224,782 shares of the company's stock valued at $1,427,000 after acquiring an additional 169,761 shares during the period. Franklin Resources Inc. boosted its position in LegalZoom.com by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company's stock worth $20,310,000 after purchasing an additional 132,189 shares during the period. JPMorgan Chase & Co. increased its holdings in LegalZoom.com by 14.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company's stock valued at $3,605,000 after purchasing an additional 71,291 shares in the last quarter. SG Americas Securities LLC raised its position in LegalZoom.com by 44.8% in the fourth quarter. SG Americas Securities LLC now owns 90,104 shares of the company's stock valued at $677,000 after purchasing an additional 27,867 shares during the period. Finally, Brighton Jones LLC purchased a new position in LegalZoom.com in the fourth quarter valued at about $185,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LZ shares. JPMorgan Chase & Co. raised their price target on shares of LegalZoom.com from $9.00 to $11.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Friday, April 11th. William Blair reaffirmed a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Barclays upped their target price on LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Finally, Morgan Stanley decreased their price objective on shares of LegalZoom.com from $10.00 to $7.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, LegalZoom.com has a consensus rating of "Hold" and a consensus price target of $9.06.

LegalZoom.com Price Performance

LZ traded down $0.08 during mid-day trading on Tuesday, hitting $7.27. The stock had a trading volume of 1,604,359 shares, compared to its average volume of 1,838,432. LegalZoom.com, Inc. has a 1-year low of $5.33 and a 1-year high of $12.21. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 55.93, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. The stock's fifty day simple moving average is $8.29 and its 200-day simple moving average is $8.21.

LegalZoom.com Company Profile

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company's platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.